Lon and St Lawrence Result of Meeting
20 Abril 2017 - 6:27AM
UK Regulatory
TIDMLSLI
20 April 2017
London and St Lawrence Investment Company PLC (in members' voluntary
liquidation) (the "Company")
Update on the Scheme and Results of General Meeting
Results of the Second General Meeting
The Board of London and St Lawrence Investment Company PLC announces that at
the Second General Meeting, held earlier today, the special resolutions were
duly approved by Shareholders.
Accordingly, the Company has been placed into members' voluntary liquidation
and James Eldridge and Jeremy Willmont, both of Moore Stephens LLP, have been
appointed as liquidators.
The Company's Reclassified Shares and Preference Shares were suspended at 7.30
a.m. this morning.
Applications have been made to the UK Listing Authority and the London Stock
Exchange for the listing and admission to trading for the Reclassified Shares
and Preference Shares to be cancelled. It is expected that such cancellation
will take place at 8 a.m. on 21 April 2017.
Copies of the special resolutions have been submitted to the National Storage
Mechanism and will shortly be available for inspection at www.morningstar.co.uk
/uk/nsm.
Terminal Asset Value
Further to the passing of the resolutions at the Company's General Meetings and
under the terms of the Proposals, the TAV of the Company was calculated as at
12 noon on 18 April 2017 and is 390.23 pence. Ordinary Shareholders who
elected, or were deemed to have elected, to rollover into Practical Income
Units will be receive 1.668374519 Units for every Ordinary Share.
Cheques and contract notes for Practical Income Units issued under the Scheme
are expected to be dispatched by the Company's registrars in the week
commencing 24 April 2017.
Preference Shares
In accordance with the Articles, holders of the Company's Preference Shares
will receive a distribution equal to the nominal value of GBP1.00 for each
Preference Share and the accrued but unpaid preference dividends equal to
0.6849 pence for each Preference Share. It is expected that cheques for this
payment will be dispatched in the week commencing 24 April 2017.
Purchase Price for Consistent
As part of the Proposals, and in conjunction with the liquidation of the
Company, on 12 April 2017, Shareholders approved the sale of Consistent Unit
Trust Management Company Limited to the Ashfield Consortium. The Ashfield
Consortium will purchase Consistent Unit Trust Management Company Limited for a
consideration of GBP3.29 million. The proceeds of this sale will be distributed
to all Ordinary Shareholders on the Company's register on 20 April 2017 during
the course of the liquidation in one or more interim distributions after the
settlement of the Company's creditors.
Capitalised terms used in this announcement shall, unless the context otherwise
requires, bear the meaning given to them in the circular dated 20 March 2017.
Enquiries:
London & St Lawrence Investment Company PLC
Jenny Sculley +44 (0)1296 711598
Moore Stephens LLP
James Eldridge +44 (0)20 7334 9191
Cenkos Securities plc
Sapna Shah +44 (0)20 7397 1922
Shamus Henderson +44 (0)20 7397 1917
END
(END) Dow Jones Newswires
April 20, 2017 05:27 ET (09:27 GMT)
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